MENU

Why these 4 ASX shares are sinking lower today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has fought back from its morning declines and is marginally higher at 6,280.6 points.

Four shares that have acted as a drag on proceedings today are listed below. Here’s why they have sunk lower:

The Bubs Australia Ltd (ASX: BUB) share price is down 2% to 71 cents a day after the release of its quarterly results. Although investors reacted positively to the release initially, its shares ultimately gave back those gains. I suspect that its accelerating cash burn may have some investors concerned. Bubs advised that it expects cash outflows of $14.4 million in the next quarter, notably higher than the most recent quarter.

The Janus Henderson Group PLC (ASX: JHG) share price is down 7% to $40.55 after announcing its second-quarter results and the appointment of a new CEO. Janus Henderson experienced net outflows of US$2.7 billion during the period, leaving it with assets under management of US$370.1 billion. Shareholders will be hoping for a better performance in the third quarter under the leadership of new CEO Dick Weil.

The Praemium Ltd (ASX: PPS) share price is down over 4% to 78.5 cents. Concerns over increasing promotional activities and price cuts in the investment platform industry have weighed heavily on the shares of Praemium and its peers over the last couple of weeks. While I think its shares have fallen to an attractive level now despite the price war, it might be best to wait and see what management says in its outlook later this month.

The Pushpay Holdings Ltd (ASX: PPH) share price has tumbled 7% lower to $3.51 after announcing its first quarter results. The payment solutions company delivered on its revenue guidance of between US$20.5 million and US$22.0 million for the quarter. Total revenue increased 52.6% from US$14 million in the previous corresponding period to US$21.4 million. It appears that investors were expecting Pushpay to outperform its guidance.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Atlassian.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now